一、2003年中国股市运行特征1 .弱平衡市主导2003年行情。“价值回归”使中国股市2003年继续呈现弱平衡市状态,上证综指高点在1650点附近,低点在1300点附近,上下区间350点,全年股指波动幅度不大,平均股价则出现了20%以上的跌幅。一个新的投资理念逐步成为市场的主导理念,价值投 First, the characteristics of China’s stock market in 2003 1. Weak-balanced market dominated the market in 2003. “Return of Value” made China’s stock market continue to be in a state of weak equilibrium in 2003. The Shanghai Composite Index peaked at around 1650, the lows were around 1300 and the upper and lower ranges were 350. The fluctuation of the stock index throughout the year was not significant and the average share price appeared A decrease of more than 20%. A new investment philosophy has gradually become the dominant concept of the market, the value of investment